§t0.tk (&m\ C0Ktpil|
CAPITA!. $400,000- — SHARES #100 each.
OFFICE— WHITEHALL STEEET, ATLANTA, GA.:
(CP-S'AIE9, OPPOSITE BEACH * ROOT.)
Franklin Steam Frinting House,
J, TOON & CO., PROPRIETORS.
(JU S fc-^v o p- *""^> 8|Jfe? - t -'~> L co /"""A ff? - cr ^V i C
S ffl i ifi l rtnl i M fihtiff
§mth Jjtadt (8/0x1 fttttpij
CAPITAL $400,000 SHAKES $100 eacto.
Z?&~ Office Whitehall street, up-atairs, nearly opposite Beach k Root, Atlanta, G».
iTranJklin Steam IPrinting House,
J. 3. T»0N 4 CO, PR0F»I»T0KB.
CASTLE ROCK COAL COMPANY OF GEORGIA.
S. B. ROBSON, GEO. S. CAMERON,
JOHN THOMAS, R. C. ROBSON,
Z. H. GORDON.
S. B. ROBSON, President.
W. H. Tuller, Sec'y.
TO INCORPORATE THE CASTLE ROCK COAL COMPANY OF GEORGIA.
Section 1. Be it enacted by the General Assembly of
the State of Georgia, that George S. Cameron, John Thomas,
S. B. Robson, Z. H. Gordon, R. C. Robson, and their asso-
ciates and successors, are hereby constituted a body, corporate
and politic, under the name and style of the " Castle Rock
Coal Company of Georgia," for the purpose of exploring
and mining for coal, and vending the same, and to continue
in existence to them and their successors for a period of nine-
ty-nine years, with power to build, or purchase, or own stock
in such railroads as may be necessary for transportation of
coal, or other purposes necessary in conducting the business
of said company in mining and transportation of coal and
the transportation of their necessary supplies. To make and
use a common seal, and to altar and change the same at plea-
sure ; to make such by-laws not inconsistent with the Consti-
tution or laws of the State,°as may seem necessary and proper
for its government in its corporate name; to sue and be
sued, to plead and be impleaded, to hold by purchase or oth-
erwise, and to dispose of the same in any way, any real estate,
or personal property which may be useful or necessary, for
carrying on its operations or which it may become possessed
of, in payments of debts due to it.
Sec. 2. Be enacted, That the capital stock of said com-
pany, shall be three hundred and fifty thousand dollars,
with liberty to increase the same as hereinafter provided, to
be divided into shares of not less than one hundred dollars
each ; the amount of capital Stock, the number and price of
shares, shall be fixed and agreed upon by the Corporators at
their first meeting under this act. Nothing but money or
mining property shall be regarded as a basis for capital stock.
The stocks to be subscribed and paid for as the Board of
Directors may prescribe. The stock shall be considered as
personal property, and shall be transfered only on the books
of the company in person or by attorney.
Sec. 3. Be it further enacted, That the stockholders,
not having paid their stocks according to the terms of sub-
scription, shall be individually liable to the creditors of the
Company to the amount so remaining unpaid.
Sec. 4. Be it further enact ed, That said company may at
its pleasure, and in such form and as the Directors shall
elect and declare, increase the capital , stock to any amount
they may deem advisable, not exceeding six hundred thous-
and dollars, and said Directors shall have power to sell, dis-
pose of, or take subscriptions for such increased and addi-
tional stock, in such manner and form, at such time and place,
and on such terms, as they may think proper to order and
Sec. 5. Be it further enacted, That the Corporators,
named in the first section of this act, or any of their asso-
ciates who may be chosen, or elected at the first meeting of
the Company, shall be the Directors for the first year ; five
members of the Company shall constitute a full Board of
Directors, and shall hold their places until others are elected
and qualified in their stead. The annual meeting of the
Company shall be held at such times and places as the Board
of Directors may determine from year to year. Thirty days
notice being given in some newspaper published near the
place of business, of the time and place of such meeting.
At each annual meeting, a Board of Directors shall ( be
chosen for the ensuing year. But in case of failure to elect
a Board of Directors, the Charter of the Company shall hot
be forfeited thereby, but the Directors of the previous year
shall continue in office until others are elected in their stead.
The Directors shall appoint one of their number President,
and shall appoint such other officers as they may deem proper,
and affix their salaries.
Sec. 6. Be it enacted, That said Company shall not con-
tract any debt over and above the amount of capital stock
paid in, no part of which shall be withdrawn, or in any way
or manner directed from the business of the Company without
the consent of three fourths in interest of the stockholders.
PETER E. LOVE,
Speaker of the House of Representatives, pro tern.
L. Carringtox, Clerk of the House of Representatives.
JOHN BILLUPS, President of the Senate.
Jas. M. Mobley, Secretary of Senate.
As the Legislature has, by a Constitutional majority, over-
ruled in other cases the objections I have to this bill, I yield
my assent to it out of respect for their decision.
This 15th December, 1862.
(Signed) JOSEPH E. BROWN, Governor.
Secretary of State Office, }
mllledgeville, georgia, \-
December 17, 1862. J
I, Nathan C. Barrett, Secretary of State, do hereby cer-
tify that the foregoing is a correct copy of an act to incorpo-
rate the Castle Rock Coal Company of Georgia, of file in
Given under my hand and seal of office this the 17th day
December, 1862. A. C. BARRETT,
Secretary of State.
B Y-X, A. WS.
Article 1. The principal office of the Company shall be
located in the city of Atlanta, Georgia.
Art. 2. The annual meetings of the Company, shall be
held at such times and places as the Board of Directors may
determine from year to year. Thirty days previous notice
being given in some newspaper published in the city of At-
lanta, of the time and place of such meeting.
Special meet ; ngs of the stockholders may be called by the
board of Directors in the same way.
Art. 3. It shall be the duty of the stockholders at each
annual meeting of the Company to elect a Board of Direc-
tors for the ensuing year ; each share of stock, shall entitle
the holder to one vote, which may be cast in person or by
A plurality of votes at all such meetings shall determine
the election. No action of the stockholders at any annual
or special meeting of the Company shall be binding, except
for the purposes of election of Directors or adjournment,
unless a majority or the whole Capital stock, shall be repre-
sented either in person or by proxy. All elections of the
Company shall be held under the inspection of three stock-
holders in said company, not being Directors, or to be appoint-
ed by the President. The voting shall be by ballot.
Art. 4. The Directors shall be stockholders in the Com-
pany to the extent of fifty shares each, who shall at their
first meeting, or at a special meeting called for the purpose,
elect a President and Secretary of the Company for the
Art. 5. The Board of Directors shall meet at least once
in three months, -for the transaction of business. Special
meetings of the Board may be called at any time by the Secre-
tary of the Company upon the written request of any two of
ithe Directors or the President.
Art. 6. Any vacancy occurring in the Board of Direc-
tors, may be filled for the unexpired time, by the remaining
Art. 7 The President shall preside at all of the meet-
ings of the Company, and of the Board of Directors, and
shall give the casting vote in case of a tie. Three members
shall constitute a quorum for the transaction of business.
In the absence of the President, the Board shall elect a Pres-
ident pro tern, who shall, for the time being, perform the duties
of the President.
Art. 8. The President shall reside in or near the city of
Atlanta, and under the supervision of the Board of Direc-
tors, shall have direction and control of the works and means
of the Company. The President shall sign all certificates of
stock, bonds, checks, and other documents and papers of the
Company requiring his signature.
Art. 9. It shall be the duty of the Secretary to cause
to be kept full and correct accounts of all the transactions
and business of the Company. It shall be his duty to col-
lect all monies due the Company, and deposit the same in
some good and solvent Bank, to be designated by the Board
of Directors. The account to be kept in the corporate name
of the Company, and to settle the cash account of the Com-
pany every week, which account shall be constantly open to
the inspection of the President and Directors. He shall
sign all certificates of stock, and shall generally perform all
the duties that are usually required of such officers in a cor-
porate company. He shall prepare a report of the financial
and other affairs and business of the Company, whenever
required by the President so to do.
All notes, checks and drafts drawn by the Company, shall
be signed by the President and Secretary, and no notes,
drafts, or acceptances, of the company shall be made except
for materials, or temporary loans for the use of the Compa-
ny, without special direction of the Board.
Art. 10. A common seal shall be provided by the Board
of Directors for the use of the Company, which shall be
attached to all certificates of stock, as well as all legal in-
struments executed by the Company. A full record of all cer-
tificates issued, of all bonds and other documents made and
executed by the Company, shall be kept by the Secretary,
who shall also keep a stock ledger and transfer book, in which
shall be entered all issues and transfer of shares of the stock
of the Company. The stock of the Company shall be trans-
fered only on the Books of the Company by the holder in
person, or by his attorney. *
Art. 11. The By-Laws of the Company may be altered
or amended at any regular meeting of the Company. All
proposed amendments or alteration of the By-Laws must be
submitted to the Board of Directors, at least one month pre-
vious to the meeting of the stockholders.
PROSPECTUS OF THE
CASTLE ROCK COAL COMPANY OF GEORGIA
The Coal Lands formerly owned by the Rev. Z. H. Gor-
don, and known as the Castle Rock Coal Lands, situated in
Dade County, Georgia, have recently been purchased by
the Castle Rock Coal Company, of Georgia. This Company
has "just been organized under a liberal Charter passed by
the Legislature at its last Session. The property purchased
embraces over three thousand acres, together with all the im-
provements thereon for mining operations, consisting of side
tracks, a new and substantial Incline Plane, together with one
half of the Nickajack Railroad, connecting the Coal Mines
with the Nashville and Chattanooga Road and Tennessee
River at Shell Mound Depot, which is about 20 miles west
of Chattanooga. It will thus be seen that they are situated
at a point favorable for distribution, and when there will be
an almost unlimited demand for coal. The Capital Stock
of the Company, as now organized, is Four Hundred Thous-
and Dollars, Fifty Thousand of which* is set apart for a Work-
ing Capital. It is believed there is not a more desirable
field for profitable investment of capital and labor, directed
by good judgement, than is presented by this Company. It
is believed so for these reasons : The Company enter at once
upon the property already so largely developed ; that it
could, with but little additional outlay, deliver at the foot of
the mountain 150 to 200 tons of coal per day. To show that
this is an easy matter, we extract from a letter written by
Capt. John Frater, on the 11th of September last. Capt.
Frater has had extensive and long experience in Coal Mining,
both in England and this country, and is now employed by
the Company. In regard to these Coal Mines, he writes as
" The vein of coal which we are now working, I will desig-
nate as No. 1, or upper vein. The main gangway or entry
is 425 feet into the face, and throughout this it is of the uni-
form thickness of 3 feet 6 inches, and mines out nearly all
lump coal — at least three-fourths. The other fourth is from
fine to egg size, and capable of being worked in with mixed
coal. This vein is best adapted for domestic use, or for
steam purposes and Rolling Mills. I do not hesitate to say
that this vein of coal is the best marketable coal in the South-
ern Confederacy. In the range of my observation and ex-
perience, I know of none that will bear shipping or stock-
ing as well as this, or that slacks less by exposure to the
weather. With our present arrangements, we can run down
the mountain and deliver to the Nickajack Railroad 50 to 60
tons of coal per day, and our facilities can be increased, with
but very little additional expense, so that we can run 400 to
500 tons per day, if necessary.
" The vein No. 2, which is 35 feet lower down the moun-
tain, is known as the Harvey Gordon, or Sewanee vein, and
is a good quality of coal and well adapted for gas, iron,
steam, coke, and smith-shops, but not so well adapted for do-
mestic use as No. 1. The blossom, or. outcrop, of this vein,
promises a good development. There is also another vein 40
to 50 feet still lower down the mountain, which varies in
thickness from 6 inches to 6 feet, and is a good quality of
coa,l, adapted well for making gas, steam, iron, coke, and for
domestic use, but more expensive to work on account of its
contracting from wide to narrow seams."
In addition to the foregoing statement of Capt. Frater, we
would state that Professor Charles Upham Shepard made a
report upon these very properties which was published in
in 1859, from which we herewith make some extracts. To
those who know Professor Shepard, it is not necessary to say
that it is the very highest authority. Professor Shepard
gives the description of the veins as follows :
" DESCRIPTION OF THE UPPER VEIN.
" This has been well exposed upon Section 43, a little to
the east of Rev. Z. H. Gordon's dwelling house. It here
crops out to the east, beneath a mural capping of sandstone
grit, forty feet and upwards in height. These sandstone
strata form the table of the mountain, and extend westward
for several miles, with an almost imperceptible asceptible as-
cent, thus giving rise to a drainage towards the outcrop of
the coal. Indeed, a small stream of water thus originating
is precipitated twenty or thirty feet over the sandstone ledge
directly at the mine's mouth. This slope of table-land, from
west to east, exactly coincides with the dip of the coal ; and,
as determined by the clinometer, amounted to 5° The
sandstone is firm and thick bedded. It is very little prone
to cross-cleavage, which is a point of some importance in
taking out the coal, inasmuch as it will require a greatly di-
minished waste of the vein for the purpose of support to the
" The coal is seen at this outcrop for a distance of sixty
yards or more, and has been penetrated at one point one
hundred and fifty feet. Its thickness is exceedingly uniform,
measuring from three feet two inches to three feet six inches.
The roof is perfectly smooth and solid sandrock. At a dis-
tance of six or eight inches from the top of the coal, there
exists a thin parting of bituminous shale, from one quarter
to three quarters of an inch in thickness, which will afford
considerable facility in taking down the coal. The floor of
the vein is a firm, fine clay, imperfectly shistose, of a light
ash color, and remarkably free from lime and oxide of iron.
" The coal is firm, black, glossy and clear. It would be
called a cubical or black coal; /. e., it has a tendency to
separate into square or cubical masses, although the three
cleavages, or separating planes, are not equally distinct :
that which is horizontal is the least perfectly defined, and
one of the vertical surfaces is much brighter than the other
— the brighter face being banded, also, by frequent seams
of a more lustrous quality than the general body of the coal
presents. In general appearance, this coal resembles most
that of the Frostburg and Cumberland basin in Maryland,
while it also approximates in its general qualities some of the
Glasgow and Edinburg coals. The horizontal cleavages, es-
pecially near the roof and the foot of the vein, frequently
exhibit traces of what is called mineral charcoal. The vein,
throughout, is absolutely free from sulphur. I have not been
able to detect a trace of iron-pyrites in its composition.
" Thrown into a common wood fire, among burning char-
coal, it immediately kindles, burns with a bright light, gas
being freely evolved from its entire surface, which at first
slightly swells, and then opens partially in spots, through
which jets of melted coke slightly exude. The mass retains
its general shape, and does not fall to pieces. When the
flame ceases, the mass continues to glow with red heat through-
out, and precisely resembles, in its farther combustion, the
best wood-charcoal, until it falls into an incombustible grey-
ish white powder, or ash. These are burning qualities which
especially recommend this coal for use in grates and for
Its specific gravity is, 1.33
A sample taken from the upper portion of the vein gave
Volatile (combustible) matter 22.50
PRO 'S PECTUS 13
" The asli has a greyish -white color, and consists of l-6th
carbonates of lime and magnesia and 5-6th clay, which only
had feeble traces of oxyde of iron.
u A specimen from the lower part of the vein afforded :
Volatile matter 21.
" The ash was similar in character to the above.
" This affords us the following, as the mean composition of
the upper coal :
Volatile matter, 21.75
Water 1 .50
" It belongs, therefore, to the highly valuable class of
semi-bituminous, open-burning steam coals, and takes rank
by the side of the Pennsylvania (Pfcillipsburg) and Virginia
(Richmond) varieties. It also stands in close connection to
certain coals found in Southern and Western Wales.
" It is also expected that the per centage of incombustible
matter will diminish slightly, whilst that of the carbon,, will
increase, as the coal is worked back from its outcrop.
DESCRIPTION OF THE LOWER COAL SEAM.
" At a distance of not far from seventy fee f . below the po-
sition of the upper coal, several openings have been made
upon a vein which is included between a shelly, sandstone
rock, on the upper side, and a fine clay on the lower. Its
thickness is less than that of the superior stratum ; and per-
haps it has not yet been sufficiently penetrated to justify the
conclusion that it will average more than two feet of worka-
ble coal. At one place it measures fully three feet ; but at
a short distance it contracts to one foot. At a second open-
ing, one hundred yards distant, it maintains a thickness of
two feet for at leasi twenty yards of its outcrop.
" This coal is black and shining. It does not soil the
fingers. It is less distinctly stratified than the upper seam;
is somewhat spumose, and more likely to crumble or break
into smalls. It shows evident traces of iron-pyrites, though
it is not what would be called a sulphur coal. It is much in
request by black-smiths, for whose purpose it is esteemed su-
perior to the upper vein.
"Its specific gravity is 1.33. It consists of:
Volatile Matter, 28.00
" The ash is a reddish brown, and besides traces of car-
bonate lime and magnesia, contains considerable peroxide of
iron, mingled with the clay.
" This coal will still rank under the semi-bituminous class,
though much richer in volatile matter than the superior bed.
It will be more valuable for the purpose of generating steam
than the drier coal ; but its great value will obviously consist
in its adaptation to the formation of coke, in which condition
it will chiefly find its way to market.
DESCRIPTION OF THE MIDDLE COAL BED.
"About halfway between the two coals already noticed is
visible at one spot, what I regard as the middle bed of coal
of this formation. It occurs within soft decomposing shale,
which is characterized by the presence*of small discoid con-
cretions of argillaceous carbonate of iron. The opening
made into the coal was insufficient for the accurate determi-
nation, either of the thickness of the bed or of its quality.
The coal resembles the lower bed in its structure ; but it
differs from it, in not containing so much sulphur.
Its specific gravity is 1.36.
Volatile mailer 27.00
Water, ! r )0
Ash > 950
" The ash is reddish grey, and has 4-5ths of its composi-
tion, clay slightly ferrugenous, with the remainder consist-
ing of the carbonates of lime and magnesia."
Professor Shepard concludes his report upon these proper-
ties in the following decided language. He says :
" It remains only to speak of the probable quantity of coal
on the Castle Rock Company's lands. Of the 3000 acres of
their tract, it is perfectly safe to assume that 2,500 are
underlaid by three coal seams described. The upper coal
alone will yield 5,000 tons of merchantable produce, per
acre. Add to this six feet more for the aggregate of the
middle and lower beds, and we have 9,800, or the enormous
yield of 14,800 tons per acre, which at one cent per bushel
only, is worth $4,144 the acre ! Or, supposing that one half
the territory, from its remoteness from the valley where the
road is to be constructed for transporting the coal to the river,
should not become marketable for a long time to come, one
thousand acres are certainly as accessible as could be desired,
and will fully justify the valuation affixed.
" But this amount of pi-ofit scarcely deserves mention when
compared with what will be fully within the reach of the
Company, if it embarks in the enterprise of mining itself,
and at the same time of supplying the numerous and daily
increasing markets at its disposal. The cost of mining this
coal, after all the proper arrangements for the business are
adopted, cannot exceed one cent and a half per bushel. Two
cents additional will surely cover the interest on the inclined
plane and railway, with all expenses of wear and tear and
incidental labor for the delivery o.f the coal at Shell Mound.
It will then be. put upon the great East and West railroad,
at three and a half cents per bushel, thus leaving a net profit
of from seven to eight cents the bushel, or two dollars per
"'When it is borne in mind that there is a gain of three-fifths
in the heating power of coal, as compared with wood, at the
average prices of the two fuels where both are similarly abun-
dant, and th:it when quantities of equal heating power are
employed, the coal is three times the lightest, nine times less
bulky, and four times cheaper to handle, it is easy to foresee
that, even in a country where wood is abundant, it is destined
to be speedily replaced by the minf-ral fuel. Every steam-
boat that is launched, every railroad that is constructed, and
every machine shop that is built, is hastening the result, and
the day is near at hand, if it has not already arrived, when
every well ascertained repository of easily accessible coal is
as capable of a definite appreciation as good cultivable soil
in a populous country. Such a tract is that owned by the Cas-
tle Rock Goal Company, and I know of no simUar posses-
sion that holds out a prospect of an earlier contribution to
individual wealth and national prosperity."
It will be noticed that Prof. Shepard's report was made
before any improvements had been made for the delivery of
coal by Incline Plane and Rail Road communications with
the Memphis & Charleston Railroad, and the Tennessee river.
"VVe now enter into possession of these properties with these
improvements made. The ISickajack Railroad is not, how-
ever, in condition for extensive v>oik, on account of the flat
bar iron having been used in its construction. It is found
too weak to bear the heavy transportation of coal trains.
It has been determined by the Compnny to enter at once
upon the work of relaying the track -with T rail it on at the
earliest practical time.
We have now arrived at a point to calculate the results of
this enterprise in the hands of the Company. Prof. Shep-
ard made his estimate (in peace times) of the expense of lay-
ing this coal down at Shell Mound Depot at 3J cents per
bushel; the parties paying interest on cost of Incline Plane
Railroad, &c. When it is considered that the Company
now own these works by its capital, it will certainly be admitted
a liberal estimate of cost per bushel. We make this estimate
for peace times, as we regard any other data as uncertain for
safe estimates. The Company aim at the easy production of
200 tons per day.
^ 200 tons perday, of 26 bushels each is 5000 bushels at 12 cents, G0O.O0
Cost of Mining and delivery at Shell Mound. 3A cents per
Net profit perday $425.00
Estimating- 300 working- days to the year, we have a net result
of. ,, $127,500
Or a devidend of 30 per cent on our capital of $400,000.
For the war prices we can only say it is impossible to cal-
culate for the daily fluctuation of the cost of supplies for
working the Mines, &c. We will only say, that at present,
there is a large demand for coal at 30 cents per bushel, or
%1 50 per ton.
Were we to make an estimate based on current prices, it
would show enormous profits, even with the present cost of
working the Mines.
We prefer to discard such estimates, as they are uncer-
tain and daily changing. We deem it right, however, to
mention the present high prices as evidence of the fact, that
for coal, the price is likely to keep pace with the increased
cost of production so long as the present war continues.
We prefer to base our estimates on a peace price as before
stated at 12 cents per bushel, or $3 -J- per ton, delivered at
Shell Mound, and when it is evident, that at these low prices,
we could pay a deyidend of 30 per cent per annum on our
Capital stock, we certainly need no further evidence of the
magnificent value of our enterprise.
In our estimates we have only made calculations on the
delivery of 200 tons of coal per day,' and when it is consid-
ered that with little additional effort and expense, we can
double this production, and consequently double our profits,
we may readily believe that the time is not far distant when
the stock of this Company will be held in the highest esti-
mation by the capitalists of the country.
Atlanta, Feb. 12, 1863.